Fed’s Mester Says Further Rate Hikes Will Depend on Incoming Data
- Cleveland Fed chief said jobs report shows continued strength
- Mester says inflation rate is still too high, despite progress
Loretta Mester
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Federal Reserve Bank of Cleveland President Loretta Mester said Friday’s jobs report didn’t change her view that the labor market remains strong, and that further interest-rate hikes will depend on additional incoming data.
“The inflation rate is still too high, the level of inflation remains high, but at least we’re seeing progress on it,” Mester said Friday during an interview with CNN International. “And whether we need to tighten monetary policy a bit further or not is really going to depend on all the data that we get between now and our next meeting.”